2024-11-08 03:33

IndustryAUD/USD bounces back strongly to near 0.6630 ahead
AUD/USD climbs back to near 0.6630 as the impact of RBA’s hawkish interest rate guidance remains intact. Australia’s monthly Trade Balance unexpectedly came in lowest since March. Investors await the Fed policy meeting in which it is expected to cut interest rates by 25 bps. The AUD/USD pair recovers almost entire Wednesday’s losses and climbs back to near 0.6630 in Thursday’s European session. The Aussie pair bounces back strongly on the Australian Dollar’s (AUD) outperformance against its major peers despite the Australian monthly Trade Balance for September coming in weaker than expected. The Australian Bureau of Statistics showed that the trade surplus surprisingly came in lower at 4,609 million in September against 5,284 million in August. Economists expected the trade surplus to rise slightly to 5,300 million. This was the lowest figure since March due to a decline in both exports and imports by 4.3% and 3.1%, respectively.
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AUD/USD bounces back strongly to near 0.6630 ahead
| 2024-11-08 03:33
AUD/USD climbs back to near 0.6630 as the impact of RBA’s hawkish interest rate guidance remains intact. Australia’s monthly Trade Balance unexpectedly came in lowest since March. Investors await the Fed policy meeting in which it is expected to cut interest rates by 25 bps. The AUD/USD pair recovers almost entire Wednesday’s losses and climbs back to near 0.6630 in Thursday’s European session. The Aussie pair bounces back strongly on the Australian Dollar’s (AUD) outperformance against its major peers despite the Australian monthly Trade Balance for September coming in weaker than expected. The Australian Bureau of Statistics showed that the trade surplus surprisingly came in lower at 4,609 million in September against 5,284 million in August. Economists expected the trade surplus to rise slightly to 5,300 million. This was the lowest figure since March due to a decline in both exports and imports by 4.3% and 3.1%, respectively.
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